OECD Compendium of Productivity Indicators

Frequency :
Annual
ISSN :
2225-2126 (online)
ISSN :
2225-2118 (print)
DOI :
10.1787/22252126
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OECD Compendium of Productivity Indicators 2012

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Author(s):
OECD
Publication Date :
19 Dec 2012
Pages :
88
ISBN :
9789264188846 (PDF) ; 9789264188839 (print)
DOI :
10.1787/9789264188846-en

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This document presents an overview of recent trends in productivity level and growth in OECD countries, based on a large set of indicators. It also highlights the measurement issues involved in compiling indicators used for the analysis of issues related to productivity.

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    Foreword

    Productivity is commonly defined as a ratio between the output volume and the volume of inputs. In other words, it measures how efficiently production inputs, such as labour and capital, are being used in an economy to produce a given level of output. Productivity is considered a key source of economic growth and competitiveness and, as such, internationally comparable indicators of productivity are central for assessing economic performance.

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    Introduction

    Productivity is commonly defined as a ratio between the output volume and the volume of inputs. In other words, it measures how efficiently production inputs, such as labour and capital, are being used in an economy to produce a given level of output. Productivity is considered a key source of economic growth and competitiveness and, as such, internationally comparable indicators of productivity are central for assessing economic performance.

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    Productivity growth and convergence
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    Labour, capital and MFP
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    Sector productivity
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    Productivity and business dynamics
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    Productivity and competitiveness
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    Productivity over the cycle
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    • http://www.keepeek.com/Digital-Asset-Management/oecd/industry-and-services/oecd-compendium-of-productivity-indicators-2012/annex-a-the-oecd-productivity-databases-pdb-and-pdbi_9789264188846-9-en
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    Annex A: The OECD productivity databases PDB and PDBI

    Since its launch in 2004, the OECD Productivity Database (PDB) has provided annual estimates of labour and multifactor productivity growth (MFP) as a tool to analyse the drivers of economic growth in OECD member countries. In 2011, the OECD further developed this tool by providing new harmonised productivity measures at the industry level in a new OECD Productivity Database by industry (PDBi). The two databases include the following indicators...

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    Annex B: Measuring hours worked

    Within both the Productivity Database (PDB) and the Productivity Database by Industry (PDBI), the underlying concept for labour input is total hours actually worked by all persons engaged in production. It is instructive to consider the relationship between this concept and related measures of working time...

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    Annex C: Capital input measures at the OECD

    Two key measures of capital stock exist. The first is productive capital stock, which looks at capital in its function as a provider of capital services in production. The second is gross (or net) capital stock, which captures the role of capital as a store of wealth.1 This Annex provides supplementary information on these two measures and the approaches used to estimate them. It also provides further information on data availability for capital at the OECD and provides some pointers to future developments at the OECD.

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    Annex D: ISIC Rev4 – a new classification for industrial statistics

    In 2008, the United Nations Statistical Division (UNSD) released the 4th revision of the International Standard Industrial Classification (ISIC Rev.4). Revisions to ISIC are periodically undertaken to account for new and emerging products or industries, and to reflect changes in the organisation of production often resulting from technological innovations. ISIC Rev.4 was broadly developed in parallel with the implementation of NACE Rev.2, the European equivalent.

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    Annex E: OECD estimates of unit labour cost

    Unit labour costs (ULC) measure the average cost of labour per unit of output produced. They are calculated as the ratio of total labour costs to real output. Equivalently, they may be expressed as the ratio of total labour costs per hour worked to output per hour worked, i.e., labour productivity. In line with this definition, the OECD publishes on a continuous basis annual (and quarterly) data on unit labour costs and its components.

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